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Economics Past Questions and Answers

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Jamb 2019 Economics Questions

Question 101:

The need to construct a scale of preference is necessitated by____________

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A Scarcity and the need for choice
B The needs to satisfy wants
C Non - availability of factors of production
D Scarcity of resources

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Question 102:

The privatization exercise in Nigeria is a move towards a____________

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A Command economy
B Mixed economy
C Subsistence economy
D Market economy

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Question 103:

The mean is the best measure of central tendency because it__________

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A Can be calculated from incomplete data
B Is a balancing point in an observation
C Is a midpoint value in an array of data
D Is not affected by extreme values in a data

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Question 104:

No of Men	1	2	3	4	5	6	7	8
Total Product(unit)	200	440	540	600	640	660	660	640

If the price per unit is N2, what is the average revenue when 6 men are employed?

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A N110
B N120
C N220
D N330

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Question 105:

The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

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A An Improvement in capital goods technology but not In consumer goods technology
B A movement from unemployment to full employment
C That the output for the society has declined
D A gain in consumer goods technique and not in capital goods technique

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